Techmahindra
Technical Fault in TECHM 1)"K.I.S.S." Rule (Keep it super simple) followed
2)Do what minors do(Yogi sharma's Idea)
3)MACD Crossover
TECH MAHINDRA , Long Idea , 18 feb 2019
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Idea is for positional trading not Intraday trading.
SHORT Tech Mahindra Below 788. Target 780. SL 794.SHORT Tech Mahindra Below 788. Target 780. SL 794.
Symmetrical triangle, Consolidation in TECHM ? Buy or Sell ?Expecting breakout of symmetrical triangle soon in TECHM ,
Wait for breakout and direction.
Short below - 689
Target - 678, 669 and 660+
Long above - 711
Target - 721, 738 and 745+
TECHM | Sell on RiseTechM can be shorted on any rise. One level of shorting could be 715-720 with SL above 724 for Targets of 690-664 or more.
PENNANT FORMATION IN TECH MAHINDRA PENNANT FORMATION IN TECH MAHINDRA
NOV FUT
WAIT FOR THE BREAKOUT
EVENING STAR PATTERN IN FUTURES CHART
PROBABLE BREAK DOWNSIDE
TECH MAHINDRA_TREND ANALYSIS_BULLISH DOJI STAR_HOURLY CHARTBUY TECH MAHINDRA ABOVE 663 FOR TARGETS 671/678/686 SL 650
TECHM buy setup - Risky counter trend tradeBuy TECHM above 711 (for aggressive traders only)
T1: 720
T2: 729
T3: 740
SL: 697
TECHM- Flag Pattern formed- 240min chart - TECHM
Waiting for Flag BO. If BO done 100 points move expected
Tar1:775
Support:725,722
Tech Mahindra - Next in Q ?There is clear distribution seen in Tech Mahindra daily charts with clean divergence on RSI,
As we can see on chart there is very good support around 720 levels which was earlier a strong resistance, also volume has spiked up recently during last couple of down days.
TechM has been very resilient recently and despite the steep fall in Nifty we haven't seen much damage to it, But now as Nifty IT also starting to break down, if it breaks support around 720 and sustains below it then it can open doors to the levels all the way up to 620-600 and may do 550 as well, in between it can fine some support around 694/660.
On up side 760-770 should continue to provide very strong resistance on closing basis.
